PHILADELPHIA—Post Brothers Apartments has completed a $42 million renovation and rehabilitation of the 106-year old Goldtex shoe factory, covering the original structure at 12^th and Vine Streets in an energy-efficient envelope that gives it a modern, sleek appearance. The rebuild also positions the property for pending certification as the city's first LEED Silver multifamily property with more than 100 units.

“We put an entirely new envelope on the building that made it look modern, but more importantly made it extremely energy efficient,” Michael Pestronk, Post Brothers founder and CEO tells GlobeSt.com exclusively. “We achieved rents there that are equivalent of those on Rittenhouse Square, by having a product that is much better than anything anyone else has to offer.” Rents average $2,500 a month, and apartments are about 800 square feet.

The Goldtex factory opened in 1908, the same year Henry Ford produced his first Model T and the Chicago Cubs won their last World Series. Philadelphia City Hall – only a half-mile from the factory – was still the tallest building in the world.

One of the most-watched adaptive reuse projects in the city's recent history, the Goldtex apartments are completely leased. The building, in an area known as the “Loft District,” features 163 class A units with gym, pool and community patio on the roof.

In some places, designers intentionally left exposed graffiti that had been spray painted during the building's years of disuse, giving the building an urban edge. Hallway signage was designed by Steve Powers, a noted local muralist.

The units feature 14-foot ceilings, solid quartz counters, induction cooktops, thermostatic showers and sustainably sourced hardwood floors. The entire building and all its ultra-efficient electricity systems are 100 percent powered by renewable energy.

The property has breathtaking views of the Philadelphia skyline from its roof, and the building now stands out among surrounding high-rises in its own right. The new exterior envelope contains four types of glass and solid aluminum, coloring the structure in blues and greens. The façade design obscures the loft column grid visible on similarly rehabilitated buildings. All these elements reflect light differently, creating a scintillating visual effect and an unmistakable appearance.

Instant Insights /

Post Brothers Polishes Shoe Factory into LEED Silver MF Property

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